An editorial in Saturday’s Boston Globe notes that the business media is falling into their old habit of fawning over CEOs.
“Even if Fortune, Forbes, CNBC, and their brethren guessed right all the time, their CEO-worship would still be misguided. All those seemingly irresistible rise-and-fall narratives are tangential, at best, to the fate of the nation’s economy. And calling attention to flaws in the economy, while serving as a tough watchdog on Wall Street, is the higher calling for the business media.
“The failure to prevent the catastrophic collapse of the credit market can’t be entirely, or even largely, laid at the feet of the media. But the nation had a right to expect better warning from the thousands of reporters employed to follow the markets, just as people had a right to expect the same from those who covered the run-up to the Iraq war. Now, as news media face their own challenges, they must serve the public at large and not, in the case of business news outlets, the natural hunger of MBA-subscribers for narratives that aggrandize their bosses.”
OLD Media Moves
The cult of CEO coverage
October 3, 2009
An editorial in Saturday’s Boston Globe notes that the business media is falling into their old habit of fawning over CEOs.
“Even if Fortune, Forbes, CNBC, and their brethren guessed right all the time, their CEO-worship would still be misguided. All those seemingly irresistible rise-and-fall narratives are tangential, at best, to the fate of the nation’s economy. And calling attention to flaws in the economy, while serving as a tough watchdog on Wall Street, is the higher calling for the business media.
“The failure to prevent the catastrophic collapse of the credit market can’t be entirely, or even largely, laid at the feet of the media. But the nation had a right to expect better warning from the thousands of reporters employed to follow the markets, just as people had a right to expect the same from those who covered the run-up to the Iraq war. Now, as news media face their own challenges, they must serve the public at large and not, in the case of business news outlets, the natural hunger of MBA-subscribers for narratives that aggrandize their bosses.”
Read more here.
Full-Time
CT Mirror seeks an environment and energy reporter
November 8, 2024
Media News
Harnessing the power of AI at Dow Jones
November 8, 2024
Media News
Houston energy reporter Drane moves to investigations team
November 8, 2024
Full-Time
Houston Chronicle seeks an energy transformation reporter
November 8, 2024
Highlighted News
Business Insider founder Blodget is leaving company
November 8, 2024
Subscribe to TBN
Receive updates about new stories in the industry daily or weekly.